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IGL RESPECTING ITS MAJOR SUPPORT LINE !IGL is clearly seen respecting its support line in the past. This can be a good risk reward ratio entry, wait for formation of any bullish candlestick pattern on support line like morning star, bullish harami, bullish engulfing , hammer etc. After completion of pattern long trade can be taken here. Note : If support trend line breaks downside, avoid taking trade in this stock. Also note that this analysis was done by me only for educational purpose , feel free to share your views.
NSE:IGLLong
by headymuk
6
GBPUSD rises towards the key 1.3830 hurdleGBPUSD remains firm for the fifth consecutive day, around 1.3780 during early Thursday. In doing so, the cable pair justified upbeat RSI conditions, as well as recovery moves from 1.3600 to keep buyers hopeful. However, 200-DMA and resistance line of a five-month-old falling wedge bullish formation’s resistance, respectively around 1.3810 and 1.3830, become tough levels to cross for the bulls. Should the sterling optimists keep reins past 1.3830, the pair’s run-up towards June’s top near 1.4250 can’t be ruled out. During the rise, the 1.4000 threshold becomes the key halt. Alternatively, the recent swing low around 1.3685 can entertain the intraday counter-trend traders before directing them to the 1.3600 support. Though, any further weakness past 1.3600 will be challenged by July’s low near 1.3570 and support line of the stated wedge, close to 1.3520. To sum up, GBPUSD bulls brace for consolidating the recent losses.
Long
by MTradingGlobal
CONSOLIDATION-ACCUMULATION-BREAKOUT-PRICE-ACTION-VOLUME-PROFILEDisclaimer-: 1. FOR WHOM VOLUME PROFILE AND MY METHOD IS A LITTLE NEW OR BLURRY . I WILL SOON PUT UP AN EDUCATIONAL POST WITH DETAILS AND EXAMPLES. WE CAN HAVE A SERIES OF DISCUSSIONS THERE TOO. DO FOLLOW MY ACCOUNT TO GET NOTIFIED. 2. Do ask your questions in the comments if any. Volume Profile-: Using Volume Profile one can identify probable accumulation or distribution regions by comparing the historical Volume at Price and current Volume at Price. 2. If the current volume is low, its mostly a pause before the trend resumes 3. If the current volume is higher or equivalent to historical levels then either the trend will resume or it may reverse. If it resumes then we have more strength in trend due to more accumulation. So a breakout/breakdown will confirm in this case OBSERVATION-: Previously stock rallied rapidly after years of consolidation. Now we can see a significant consolidation happening where buying volume (blue) is greater than selling volume (yellow) 1. Moreover the current region volume has highest volume since the previous rally started. Definitely another round of accumulation is taking place. 2. So breakout above 815 will confirm and uptrend may resume. 3. Note the last breakout had low volume and RSI>80 suggesting it was a fail breakout. But now RSI <70 and volume has increased. So this time breakout might not fail ENTRY-: Above 840 confirmatory breakout STOP_LOSS Around the support of consolidation 604. TARGET-: Due to more accumulation the expected uptrend could be more than the previous rally. So 168% Fib-Ext Target. EXIT Since the target is above all time high. Its a provisional target level. So it doesn't make sense to exit at target rather hold on to it as much as possible and keep conservatively trailing stop-loss. Following can be used as exit signals or bearishness signals. 1. If there is bearish candlestick pattern in 1W timeframe, stop-loss can be trailed to a nearby support level .(Like Candle Low) 2. If there is RSI Divergence in 1W timeframe, better to exit at close of 1W since afterwards there can be long consolidation or reversal. 3. If the trailing stop-loss is hit, please exit **IF YOU LIKE MY ANALYSIS, KINDLY GIVE A THUMBS-UP AND SHARE IT IF POSSIBLE, HELPS A LOT :) **I WILL POST NECESSARY , SIGNIFICANT CHANGES IN THIS THREAD LIKE ADDITION TO POSITION, EXIT SIGNALS, BREAKOUT ETC. TO AVOID MISSING OUT ON UPDATES PLEASE REMEMBER TO FOLLOW THE POST AND MY ACCOUNT. **YOU CAN TURN ON NOTIFICATION TO BE UPDATED OF CHANGES **ANY COMMENT ON THE ANALYSIS WILL BE HIGHLY APPRECIATED. NSE:AARTIDRUGS
NSE:AARTIDRUGSLong
by VPA_TRADER
5